Legal & General Group Plc trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 0.6% in the 1st quarter, HoldingsChannel reports. The fund owned 737,142 shares of the medical equipment provider’s stock after selling 4,373 shares during the quarter. Legal & General Group Plc’s holdings in ResMed were worth $72,524,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in shares of ResMed by 2,526.7% during the first quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock worth $75,776,000 after acquiring an additional 740,239 shares in the last quarter. Highland Capital Management LP purchased a new stake in shares of ResMed during the first quarter worth $345,000. Amundi Pioneer Asset Management Inc. raised its holdings in shares of ResMed by 9.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 93,848 shares of the medical equipment provider’s stock worth $9,241,000 after acquiring an additional 7,807 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of ResMed by 80.6% during the first quarter. Cubist Systematic Strategies LLC now owns 8,371 shares of the medical equipment provider’s stock worth $824,000 after acquiring an additional 3,737 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of ResMed by 18.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,904 shares of the medical equipment provider’s stock worth $383,000 after acquiring an additional 598 shares in the last quarter. Institutional investors and hedge funds own 62.21% of the company’s stock.
NYSE RMD opened at $105.52 on Tuesday. ResMed Inc. has a fifty-two week low of $71.29 and a fifty-two week high of $108.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.85 and a current ratio of 3.48. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 37.42 and a beta of 0.93.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 26th. The medical equipment provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The company had revenue of $591.60 million for the quarter, compared to analyst estimates of $575.75 million. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. analysts anticipate that ResMed Inc. will post 3.5 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Thursday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.40 annualized dividend and a yield of 1.33%. ResMed’s dividend payout ratio (DPR) is currently 49.65%.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a report on Tuesday, March 6th. UBS Group lowered ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. William Blair reiterated an “outperform” rating on shares of ResMed in a report on Monday, April 16th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, April 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $76.67.
In other news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $106.76, for a total value of $213,520.00. Following the transaction, the chief financial officer now directly owns 67,072 shares in the company, valued at $7,160,606.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary W. Pace sold 28,403 shares of ResMed stock in a transaction dated Tuesday, May 8th. The stock was sold at an average price of $97.37, for a total value of $2,765,600.11. Following the completion of the transaction, the director now owns 128,981 shares in the company, valued at $12,558,879.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,226 shares of company stock worth $7,038,593. Corporate insiders own 1.77% of the company’s stock.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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